Bitwise Asset Management has launched automated portfolios of Coinbase’s tokenized US stocks that allow eligible investors outside the United States to follow preset investment strategies while keeping the assets in their own wallets.
The portfolios use Coinbase’s recently launched tokenized stocks, while Glider automatically rebalances users’ holdings to match model portfolios designed by Bitwise, according to a Tuesday announcement.
The initial lineup includes three strategies — the Mag7X, robotics and AI leaders — and include Apple, Nvidia, Microsoft, Tesla and SpaceX.
Tokenized listed stocks now total $2.49 billion, up 5.18% over the past month, with 2.25 million holders and $27.28 billion in monthly transfer volume, according to rwa.xyz.
Unlike a traditional fund, the tokenized stocks remain in users’ non-custodial wallets, with Bitwise setting the portfolio methodology and Glider handling trades and rebalancing. Bitwise charges a 0.15% methodology access fee, excluding trading and Glider platform fees.
Because users retain the individual tokens, Bitwise said the assets could also be used in DeFi applications for lending or borrowing, subject to the risks of those protocols.
The launch comes a day after Coinbase’s tokenized US stocks went live on Base, allowing eligible non-US users to trade the assets around the clock and use them across DeFi applications.
Magazine: MiCA is coming for DeFi vaults, but regulation will be difficult
Be the first to comment